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Market Highlights: Sensex rallies 1,016 points, Nifty settles above 17,450-mark as RBI maintains status quo

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 58,649.68, up 1,016.03 points (1.76 per cent), while the Nifty 50 settled at 17,469.75, up 293.05 points (1.71 per cent).

By: Express Web Desk | New Delhi |
Updated: December 8, 2021 5:03:42 pm
stock market, sensex live, sensex share pricePeople stand outside the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. (REUTERS/File Photo)

Share/Stock Highlights: The topline equity indices on the BSE and National Stock Exchange (NSE) rallied over 1.7 per cent on Wednesday as the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent and decided to continue with its accommodative stance.

The S&P BSE Sensex surged 1,016.03 points (1.76 per cent) to settle at 58,649.68 while the Nifty 50 rose 293.05 points (1.71 per cent) to end at 17,469.75.

On the Sensex pack, Bajaj Finance was the top gainer of the day followed by Maruti Suzuki India, State Bank of India (SBI), Bajaj Finserv, Asian Paints, ICICI Bank, Infosys, Bharti Airtel and Tata Steel.

All the sectoral indices on NSE ended in green. The Nifty PSU Bank index rose 2.57 per cent led by Indian Bank and SBI. The Nifty Auto climbed 2.31 per cent driven by Balkrishna Industries, Bharat Forge and Maruti.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

16:03 (IST)08 Dec 2021
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services on Wednesday's market performance

"Fears over Omicron faded as recent reports suggested that the new virus isn’t deadly as earlier anticipated and this helped the market to add-on to recent strong gains. The market turned positive over RBI’s continued accommodative stance and MPC kept the rates unchanged. The GDP forecast for FY22 remained high at 9.5% showing confidence over economic recovery and inflation forecast is below the market estimates."

15:44 (IST)08 Dec 2021
Equity markets at close

The S&P BSE Sensex ended at 58,649.68, up 1,016.03 points or 1.76 per cent, while the Nifty 50 settled at 17,469.75, up 293.05 points or 1.71 per cent.

12:12 (IST)08 Dec 2021
Mukesh Ambani pitches for 5G rollout, affordability

Billionaire Mukesh Ambani on Wednesday pitched for India making the rollout of 5G or the fifth-generation technology standard for broadband cellular networks as a national priority to support the digital revolution.

Speaking at the India Mobile Congress, he said India must complete the migration from 2G to 4G and 5G at the earliest. Click here to read

10:18 (IST)08 Dec 2021
NEWS ALERT | RBI keeps repo rate unchanged at 4%

Repo rate unchanged at 4%
Reverse repo rate unchanged at 3.35%
Accomodative stance maintained

Click here to read more

09:39 (IST)08 Dec 2021
RIL, Abu Dhabi firm to invest $2 billion in UAE petrochem unit

Reliance Industries Limited (RIL) and Abu Dhabi Chemicals Derivatives Company RSC Ltd have proposed to invest $2 billion in a petrochemical production facility in the UAE.

The new joint-venture will construct and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, with an investment of more than $2 billion. Representing the first production of these chemicals in the UAE, the project will enable the substitution of imports and the creation of new local value chains, while also meeting growing demand for these chemicals globally, RIL said. Click here to read

09:37 (IST)08 Dec 2021
Equity market at open

Sensex rallies 676.88 pts to 58,310.53 in opening session; Nifty surges 197.75 pts to 17,374.45.

(PTI)

On Tuesday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) settled over 1.5 per cent higher as investors looked past concerns surrounding the Omicron coronavirus variant led by gains in auto, metals, realty and banking stocks.

The S&P BSE Sensex rallied 886.51 points (1.56 per cent) to end at 57,633.65 while the broader Nifty 50 surged 264.45 points (1.56 per cent) to settle at 17,176.70.

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